0000947871-22-000426.txt : 20220330 0000947871-22-000426.hdr.sgml : 20220330 20220330083858 ACCESSION NUMBER: 0000947871-22-000426 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20220330 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20220330 DATE AS OF CHANGE: 20220330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CVS HEALTH Corp CENTRAL INDEX KEY: 0000064803 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912] IRS NUMBER: 050494040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01011 FILM NUMBER: 22783384 BUSINESS ADDRESS: STREET 1: ONE CVS DR. CITY: WOONSOCKET STATE: RI ZIP: 02895 BUSINESS PHONE: 4017651500 MAIL ADDRESS: STREET 1: ONE CVS DR. CITY: WOONSOCKET STATE: RI ZIP: 02895 FORMER COMPANY: FORMER CONFORMED NAME: CVS CAREMARK CORP DATE OF NAME CHANGE: 20070509 FORMER COMPANY: FORMER CONFORMED NAME: CVS/CAREMARK CORP DATE OF NAME CHANGE: 20070322 FORMER COMPANY: FORMER CONFORMED NAME: CVS CORP DATE OF NAME CHANGE: 19970128 8-K 1 ss899640_8k.htm CURRENT REPORT
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 30, 2022

 

 

CVS HEALTH CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 001-01011 05-0494040
(State or other jurisdiction of
incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

     

 

One CVS Drive, Woonsocket, Rhode Island 02895
(Address of principal executive offices) (Zip Code)
   

 

Registrant’s telephone number, including area code: (401) 765-1500
Former name or former address, if changed since last report: N/A

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01 per share CVS New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company      

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 

 
   

 

Section 8 Other Events

 

Item 8.01Other Events.

 

CVS Health Corporation (“CVS Health”) issued a press release today announcing that it and its subsidiary CVS Pharmacy, Inc. (“CVS Pharmacy”) have entered into a settlement agreement with the State of Florida to resolve claims related to prescriptions for opioid medications that were filled at CVS pharmacy locations in Florida. Under the terms of the settlement agreement, CVS Health and CVS Pharmacy will settle all opioid claims against them and their subsidiaries by the State of Florida for $484 million, which is to be paid over a period of 18 years. Under the agreement, local municipalities within the State of Florida have 30 days to determine whether they will join the settlement negotiated by the State of Florida. At the conclusion of the 30-day period, CVS Health and CVS Pharmacy have the option to not proceed with the settlement if they determine that a sufficient number of municipalities have not agreed to join the settlement. As a result of this settlement, CVS Health and CVS Pharmacy will no longer be defendants in the State of Florida’s opioid lawsuit that is scheduled for trial in April 2022.

 

A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

Section 9 Financial Statements and Exhibits

 

  Item 9.01 Financial Statements and Exhibits.

 

(d)   Exhibits.
     
Exhibit No.   Description
99.1   Press Release, dated March 30, 2022.
104   Cover Page Interactive Data File (embedded within the Inline XBRL).

 

 

 

 

 

 

   

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    CVS HEALTH CORPORATION
     
Date:  March 30, 2022 By: /s/ Colleen M. McIntosh
    Colleen M. McIntosh
    Senior Vice President, Chief Governance Officer,
    Corporate Secretary and Assistant General Counsel

 

 

 

 

 

 

 

   
EX-99.1 2 ss899640_ex9901.htm PRESS RELEASE

Exhibit 99.1

 

 

 

 

CVS Health Reaches Opioid Settlement Agreement with State of Florida

 

WOONSOCKET, R.I., March 30, 2022 — CVS Health (NYSE: CVS) announced today that it has entered into an agreement with the State of Florida to resolve claims dating back more than a decade related to prescriptions for opioid medications that were filled at Florida CVS Pharmacy locations.

 

Under the agreement the company will settle all opioid claims against it by Florida for $484 million, to be paid over a period of 18 years. As a result, CVS Pharmacy will no longer be a defendant in Florida’s opioid lawsuit that is scheduled for trial in April 2022.

 

“Putting these claims behind us is in the best interest of all parties and helps sharpen our focus on delivering a personalized, connected health care experience for the millions of consumers who rely on us,” said Thomas Moriarty, Chief Policy and External Affairs Officer and General Counsel, CVS Health. “We look forward to continuing our longstanding partnership with the State of Florida in providing programs, services and solutions to reduce the illegitimate use of opioid medications.”

 

The settlement amount is expected to be used by the State of Florida to support its efforts to combat opioid addiction and abuse.

 

CVS Health will continue to build on its own established efforts to fight opioid abuse, which include:

 

·Significant investments in technology and procedures to support its pharmacists in exercising their professional obligations
·Innovative, comprehensive, and industry-leading policies, procedures and controls relating to the dispensing of controlled substances
·Effective educational programs for patients and providers, as well as a Pharmacists Teach program focused on prescription drug misuse that has reached 600,000 teens and parents
·Rollout of more than 4,000 safe medication disposal units in stores and local police departments across the country, which to date have collected four million pounds of unused medication
·Installation of time delay safes in nearly 6,800 pharmacies across 23 states and Washington, DC to help deter opioid robberies
·Nationwide access in CVS Pharmacy locations to life-saving opioid overdose reversal medication

 

The settlement with the State of Florida includes no admission of wrongdoing. As a result of the unique facts and circumstances of the Florida claims, the settlement value should not be extrapolated to any other opioid-related litigation in which CVS Health is involved. CVS Health will continue to vigorously defend against other lawsuits relating to opioids.

 

###

 

 

   

 

About CVS Health

CVS Health is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and approximately 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses, and nurse practitioners. Wherever and whenever people need us, we help them with their health – whether that’s managing chronic diseases, staying compliant with their medications, or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system – and their personal health care – by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Learn more at www.cvshealth.com.

 

Media contact

Mike DeAngelis

401-770-2645

Michael.DeAngelis@CVSHealth.com

 

Investor contact

Thomas Cowhey

1-800-201-0938

Thomas.Cowhey@CVSHealth.com

 

 

 

   

 

 

 

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Cover
Mar. 30, 2022
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Mar. 30, 2022
Entity File Number 001-01011
Entity Registrant Name CVS HEALTH CORPORATION
Entity Central Index Key 0000064803
Entity Tax Identification Number 05-0494040
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One One CVS Drive
Entity Address, City or Town Woonsocket
Entity Address, State or Province RI
Entity Address, Postal Zip Code 02895
City Area Code 401
Local Phone Number 765-1500
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol CVS
Security Exchange Name NYSE
Entity Emerging Growth Company false
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